Adani Ports and Special Economic Zone (APSEZ), India’s largest private port operator, has achieved a new milestone by recording more than 200 MnT cargo movements in FY19 as on 21 Mar’19.
APSEZ, thus has became the first port operator to attain the feat in the country.
The company crossed the 100 MnT mark in 2013-14 and now has taken just 5 years to exceed 200 MnT in terms of cargo handled in a particular fiscal year.
APSEZ with its presence at ten locations handles a wide variety of cargo ranging from coal, crude, and containers to fertilizers, agri products, steel & project cargo, edible oil, chemicals, automobiles etc.
Adani Ports embarked its journey in 2001 starting with Mundra Port but later on more ports were added to the portfolio.
Non-major ports were developed at Hazira, Dhamra, Dahej and newest at Kattupalli. Besides, terminals have been developed within major ports of the country at Ennore, Kandla, Goa and Vizag from 2005 to 2018.
The growth in cargo movement were aided by proximity and rail/road connectivity to the vast and rich north-western hinterland, state-of-the-art modern port infrastructure and equipment, zero waiting time for ships, faster turn-around time and competitive rates.
While an increased preference for coastal shipping of coal has also helped its cargo business. Notably, coal shipments accounts for nearly 33% of the total volume taken by Adani’s port.
Commenting on the achievement, Mr Karan Adani, Chief Executive Officer, APSEZ, said, “Our projections were to reach this milestone by 2020 but we could achieve it ahead of schedule courtesy the tech-driven operational efficiency and enhanced asset utilization.”
Going forward APSEZ has set its sights on higher targets with aims to double growth up to 400 MnT by 2025.
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